To be considered a PGP applicant for the Class of 2022, you will need to have the following:

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    3-4 years Bachelor’s or Undergraduate Degree in any discipline from a recognized institution.
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    Work Experience

    While work experience is preferred, students fresh out of their undergraduate studies may also apply.
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    Competitive Exam

    Applicants are encouraged to submit their valid GMAT, GRE, CAT or NMAT scores, in case they have them. The admission panel will take these scores under consideration when evaluating their candidatures.
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    As a mandatory step, all applicants are required to take the Masters’ Union- Business Aptitude and Admissions Test (MU-BAAT). The cut-off score will be used to shortlist applicants for the Personal Interview round.


These are the 3 basic concentrations fundamental to any business or role. Each of the concentrations have 5 non-optional courses

Submit the PGP TBM online application along with the following:

attachment Documents Required

  • check Latest Résumé Download Sample
  • check Up to 2 Recommendations from any of the following:
    • Direct managers
    • Teachers or Professors (undergrad level and above)
    • Mentors
    • VCs or Angel Investors
    • Customers or Partners
  • check 1 Essay in response to the one of the following questions (300-500 words):
    • If you had $100 Million to acquire a company, which one would you acquire and why?
    • Tell us about one experience or incident that fundamentally changed your life. You can also choose to submit the essays in the form of videos (2-minute-long each).
  • check Supplementary information
    • We would love to get to know you better, so if there is anything else that you think the admissions committee should know about, feel free to share it in the form of a portfolio, essay or video.

Masters’ Union has its own 90-minute long assessment test that involves :

1. Analytical Assessment(Subjective): A case- study meant to get an insight into the candidate’s unique thought process and problem-solving approach. No prior or specific knowledge is required for this question.

2. Verbal Reasoning: A set of multiple-choice questions to test the candidate’s ability to read and understand the English language.

3. Quantitative Reasoning: A set of multiple-choice questions to test the candidate’s ability to analyze and assess data using their mathematical and reasoning aptitude.

4.Data interpretation: A set of multiple-choice questions to test the candidate’s ability to read data presented in different formats and analyze it accordingly.

If shortlisted, you will be invited for an in-person interview, which will help us get to know you better, and let you understand all aspects of the Masters’ Union PGP-TBM. The interview panel will consist of our eminent Masters from academia and the industry, as well as members of the core team. The interviews will be held in Delhi, Mumbai & Bangalore, and over Skype in exceptional cases.

The interview process is structured to evaluate the candidates for their communication skills, the ability to learn and unlearn, curiosity and professional focus.

Once the Admissions Office receives feedback from the panel, your application will be re-evaluated, and then presented to the Admissions Committee, which makes the final decision for each candidate.

You will be advised on the final decision on your application through an email. The entire admissions process (from the Application Deadline) will take up to 4 weeks.


Q. Does Masters' Union have a cut-off for GMAT, GRE, CAT and NMAT?

We at Masters’ Union follow a holistic evaluation approach. While it isn’t mandatory to have taken or submit the standardised test scores, we encourage students to voluntarily do so. A high score can always add value to one’s candidatures.

Q. Are all candidates interviewed?

Post submission of the application form, all candidates are mandatorily required to take the MU-BAAT. The cumulative assessment of their application and their performance in the test is used to shortlist the most meritorious of the lot, who are then invited for an in-person interview with the Masters.

We at Masters’ Union follow a holistic evaluation approach. While it isn’t mandatory to have taken or submit the standardised test scores, we encourage students to voluntarily do so. A high score can always add value to one’s candidatures.

Post application, candidates are shortlisted based on merit, and only shortlisted candidates are invited for a panel interview and case analysis.

You do not need work experience necessarily, to be admitted. Work experience obtained after graduation is preferred, however, applicants in the final year of graduation who demonstrate maturity and leadership through their personal experiences are encouraged to apply.

There is no age limit for entry. However, the programme is most suitable for those who are at an early stage in their career with an experience range of zero to five years. If you have more work experience, we encourage you to get in touch with the admissions team for consultation with one of our Masters, who will evaluate your profile and advise you accordingly.

As a candidate with less than 2 years of experience, you will not compete for jobs with senior folks. Companies offer jobs relevant to different experience bands, and you, at best, compete in a narrow experience band of, say, 0-2 yrs, 3-5 yrs, 5-8 yrs, 8+ years and so on. An organisation may offer different roles based on your skills and past experience.

We value diversity at every level. We welcome applications from people with a variety of professional and academic backgrounds, including the arts, law, medicine, military, non-profit, etc. As with all candidates, we will be looking for you to demonstrate your potential as a leader, and we will consider your professional experience and past performance when assessing your application.

There is no typical profile at the Union. We have an extremely diverse student body in terms of age, professional experience, education and culture.

Yes. While the vast majority of our participants have undergraduate and/or advanced degrees, this is not compulsory for admission. Candidates who do not hold an undergraduate degree, but who have an excellent career record and GMAT score are also welcome to apply.

Union does not have a minimum GPA requirement as the GPA system is not a globally used grading methodology. We primarily look at the courses taken and the grades received in each course, in addition to the overall academic performance.

Unsuccessful applicants may reapply for the next intake. Please exercise your own judgement in deciding if you have any significant changes in your new profile since your first application that will make a difference with the Admissions Committee. All re-applicants are requested to submit a new online application unless otherwise indicated.

In the large majority of cases, no. You should apply for the intake in which you intend to enrol. In truly exceptional circumstances, the Admissions Committee may grant a deferral. All requests should be made in writing and will be reviewed on a case -to- case basis.

To be included in a specific round, applications must be completed and submitted by midnight IST on the day of the deadline. A complete application includes the online form, valid test scores, English test scores (if applicable), all supporting documents, letters of recommendation, essays and payment of the application fees. For more details please visit Supporting Documentation, under Application Checklist.

Each round is equally competitive as the ratio of acceptance is the same for all rounds. When choosing a round in which to apply, the most important consideration is to dedicate enough time and thought to your application so that it accurately represents your strengths and talents. However, we encourage you to apply to Round 1 if scholarships are a priority.

The 2 Lakh deposit is refundable only in case of successful completion of the programme by the student.

The admission fee, also referred to as the token fee, is non-refundable and will not be returned under any circumstances.

In case a student has to withdraw from the programme after the commencement, for either academic, personal or administrative reasons, only 50% of the tuition fee will be refunded on a pro rata basis.

No refund shall be made in case a student is expelled from the programme on disciplinary grounds.

In the case that there is a reduction in your hostel occupancy period by more than a month, due to late commencement of the programme, a refund will be made on a pro rata basis at the end of the programme. However, a refund will not be applicable if the programme is extended beyond November 2021 to compensate for a late start, since the net occupancy period will remain the same in that case.

No refund shall be made if you choose to spend your 3-month industry interface module outside Gurugram, since the hostel charges correspond to your holding the property for a continued period of 16 months. A pro rata refund can be made only for the laundry and catering charges (in case it has been paid for upfront) if you choose to pursue your industry interface module outside Gurugram.

No refund shall be made in case a student is made to evacuate the hostel on disciplinary grounds.

Currently, we are not offering the option to defer the admission offer. Those who cannot join the programme in the current year are advised to apply again for the next year.

Dates &

Rounds Deadline Interviews Application Fee
Round 1 October 30, 2020 November 2020 Rs 4,000
Round 2 January 31, 2021 February 2021 Rs 4,000
Round 3 May 7, 2021 May 2021 Rs 4,500 Apply Now


MU-BAAT scores will be valid only for the year in which the test was taken. The test helps us assess one’s logical reasoning, critical thinking and verbal abilities and aids in the shortlisting process.

If the applicant misses both the rounds of a particular intake, the application form and its entire contents will expire. At this point, the applicant will be required to complete a new application from scratch, for the next intake.

To be included in a specific round, applications must be completed and submitted by 23:59 IST on the day of the deadline. A complete application includes the online application along with supporting documents.

PS: Letter(s) of recommendation need to be submitted before the stated deadline. Failure to do so, would lead to dismissal of the candidate's application for the current round.

An application will only be evaluated once it is complete. If it is completed after the deadline, it will be reviewed for the next round or (in the case of last round applicants) the following intake.

Due to the large number of applications we receive for each intake, and the confidentiality of the deliberations of the Admissions Committee, we would be unable to provide detailed individual feedback on unsuccessful applications.

  • Language Requirements

    If you are a non-native English speaker, you may need to submit Learn more
  • Test Score Validity

    GMAT and GRE scores are valid for 5 years prior to the application deadline Learn more
  • Application Submission

    If the applicant misses all three rounds of a particular intake, the application Learn more
  • Feedback

    Due to the large number of applications we receive for each intake and the Learn more


Class of 2021


Average Age
25.7 Years
Minimum & Maximum Age
21 - 39 Years
Avg GMAT Score
Avg Last Drawn Salary
10.5 lpa

Undergraduate Colleges Represented

IIT, Kharagpur
























Former Employers




















TATA technologies









Class Size 60

  • memory
    17% Engineering
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    13% Computing
  • business_center
    22% Business
  • color_lens
    11% Liberal Arts
  • local_florist
    23% Natural Sciences
  • location_city
    14% Architecture & Design
  • person
    24% Consulting
  • laptop_mac
    19% IT
  • business_center
    27% Banking
  • location_city
    18% Family-Run Business
  • work_outline
    12% Self-employed

I’m interested in this Programme

Fees &

Fee Structure

  • Rs. 1,37,500/- (Add GST)Rs. 24,750/-

  • Rs. 16,22,500/- (Add GST)Rs. 2,92,050/-

  • Rs. 1,10,000/- (Add GST)Rs. 18,800/-

  • Rs. 18,70,000/- (Add GST)Rs. 3,36,600/-

Payment Schedule

  • As per the offer letter

  • July 17, 2020

  • October 31, 2020

  • February 28, 2021

Non-Refundable Admission/ Token Fee As per the offer letter
1st Installment of the Balance Fee July 17, 2020
2nd Installment of the Balance Fee October 31, 2020
3rd Installment of the Balance Fee February 28, 2021

A 12% discount on the balance fees (excluding the deposit and admission fee) shall be applicable upon payment of the entire amount upfront, before 31st of July, 2020.

The Masters’ Union (MU) reserves the right to accept delayed payment for up to 10 days from the due date, with a late payment fee of INR 10,000/- plus taxes, on a case-to-case basis. The decision of the authorized MUSB personnel shall be final in such cases.


We, at Masters’ Union, believe that financial constraints should not pose any hindrance to someone’s academic aspirations. We are keen to attract promising candidates to our founding class, so that they elevate the quality of the peer learning experience. We have upto 75% scholarships available for applicants with exceptional profiles that fall in one of the following categories:

  • Karthik Ramanna Merit-Based Scholarships

    Masters' Union is keen to identify and extend financial support to candidates with exceptional academic records and professional accomplishments. Our merit-based scholarships are need-blind and offer full and partial waivers of the tuition fee, as decided by the selection panel.
  • Malavika R Harita Scholarship for Women

    Masters' Union will extend a scholarship to deserving female candidates with impressive academic and/or professional track record, along with the drive and potential to emerge as an industry leader.
  • Mukund Rajan India-Bound Scholarship

    This scholarship is directed at Indian-origin candidates (i.e. PIO card-holders) who wish to engage with the Indian corporate sector, as well as Indian professionals, currently based abroad, who wish to return to India in pursuit of a world-class education, that may help catapult their careers to newer heights.
  • Narendra Jadhav Diversity Scholarship

    This scholarship aims at the inclusion of exceptional candidates from marginalised and underserved communities from the Indian subcontinent, such as the Northeast, Ladakh, Bhutan, and the tribal belts of the Indian hinterland.
  • MU Scholarship for Young Leaders

    This scholarship aims to identify fresh graduates who have displayed exceptional drive and leadership potential through active participation in student-led committees, clubs and other initiatives while in college.
  • MU Scholarship for Technology Leaders

    This scholarship is for candidates who have demonstrated technology-oriented leadership either as students or in their jobs, through innovations, patents or research, and are looking to further their career prospects in the technology domain.
  • MU Scholarship for Entrepreneurs

    This scholarship funds candidates who have had entrepreneurial experience, with varying levels of success, and wish to gain more skills and academic perspectives to carry on with their line of work.

ISB and Corporate donors’ together award up to 40 scholarships of INR 5 Lakhs each to deserving candidates whose family income is not more than INR 12 Lakhs (including applicant’s pre-ISB income). Candidates have to submit an essay and proof of income to be eligible for the need-based waiver

  • check Number of scholarships: 10
  • check Eligibility
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  • check How to avail the scholarship
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ISB believes that diversity enriches the learning experience both inside and outside the Class. To encourage students with diverse profiles ISB gives scholarships of INR 5 Lakhs to up to 10 students.

Up to 3 scholarships of INR 5 Lakhs are given to AIESECers. An essay needs to be submitted for the same.

ISB offers up to 30 scholarships of varying amounts to deserving international students.

This scholarship is given to Indian origin students currently working abroad, who plan to move back to India. INR 5 – 10 Lakhs scholarships are awarded to up to 5 students. Eligible students would have to submit an essay for the same.

Income Share

We do understand that the opportunity cost for pursuing PGP or equivalent course for a professional has to include the forgo of salary for that particular year. So to make it easier for applicants to bear fee expenses, Masters’ Union has come up with an income share agreement policy.

What is an Income share agreement?

According to the Income Share Agreement, applicants are required to pay only 25% of the course fee upfront and Within 6 months of completion of the course, if the candidate is earning an annual salary of 8 lakhs per annum or more, he/she will be entitled to pay 25% of their annual income to Masters’ Union for the next four years.

Note: can only opt for Income share agreement till Round 2 of admission cycle for a particular intake year.

Pay only 25% of your tuition fee until you land a high-paying job

Monthly payments are based on student’s annual income

Free from any obligation to make payments once you have reached the max cap or the payment schedule ends

Income share agreement is over if any of the following events happen

  • Number of ISA
    per year

  • ISA is applicable only if you start making 10 lakhs per year

  • Applicant pays 25% of their income in monthly installments

  • Applicant will never have to pay more than 21 lakhs no matter how high their salary is

  • ISA expires after 7 years
    of graduation

  • You can choose to pay tuition fee of 18.95 l upfront

If Applicant has to stop working for whatever reason, ISA pauses.


While filling the online application form, Under the scholarships section, you can opt for ISA and attach relevant documents required for the same. You’ll be notified about the decision at the time of final decision about your admission.

Your repayment starts after one month of joining your job.

ISA is a legally binding contract between the applicant and Masters’ Union. It requires the applicant to furnish their Income Tax Return documents and other income proofs to Masters’ Union.

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Yes, as Masters’ Union is going to invest hugely on applicant’s learning, we will need a security deposit from your end. For this purpose, you will have to deposit a Bank Account Cheque of Rs 2,50,000 to Masters’ Union. This cheque will be returned to you after the agreement period. We will have the right to use this cheque in case of any breach of agreement from your end.

Calculate Your ISA

Estimate your payments

Rs. 0/- Rs. 30,00,000/-
  • If your salary is
  • You will pay
  • Total

External Funding

The following financial institutions can provide loans for up to 95% of the programme fees to the admitted students.

  • 95% of the total course fees
  • Starting at 11.5% pa
  • Up to 15 years
  • Course Period + Maximum of optional 6 months
  • Max Life Insurance
  • Applicable as per Axis bank norms
  • perm_identityMr. Ankit jain
  • local_phone9654611713
  • credit_card Loan Contract Terms
  • Salaried Individuals: Up to Rs. 1 crore
    Self-employed: Up to Rs. 3 crore with suitable collateral
  • Starting from 9.6%, with a loan against 75% of the property value
  • 20 Years
  • Pay only interest as EMI. Repay the principal at the end of the tenor.
  • Co-borrower required, Property on name of self, Parents, Spouse.
  • upto 1%** of the disbursal amount
  • mail_outline
  • mail_outline
  • local_phone18002091999
  • 10 lakhs
  • 11.25% Secure | 12.75% Unsecured (Floating rate of interest p.a*)
  • Up to 144 months, including the study period (Can be lower if required)
  • Available under Section 80E of Income Tax Act 1961
  • Required for unsecured cases
  • 5000 + GST
  • perm_identityMr. Atesh Sharma
  • mail_outline
  • local_phone8588813295
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